They just cut two very seasoned employee Monday. We recently noticed two pallets of the collapsible boxes used when they layoff employees for HR at receiving and very quickly moved away from view, probably a lot more to come at this location based on the number of boxes we saw. I feel bad for those two employees both of whom have families and were really top notch performers. I will definitely miss them.
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I've noticed that every time they do layoffs, it always occurs right at pay period. This appears to be no different. We should really look out for end of December as they will probably be looking to cook the books even more before year end and make another round. Not sure it will help with our current debt level and the fact that our stock has become "penny stocks"!
Seeking Alpha in fact warns to avoid! http://seekingalpha.com/article/3524646-avoid-weatherford-1b-capital-raise-could-drive-stock-below-4
When I left Big Red a year ago they told us that we were going to move to another location that was recently vacated, had us pack-up all our personal stuff but told us not to worry about our PC's as they were going to have contractors move the PC's and office furniture. Asked us all if we didn't mind driving to the new location with our boxes and little did we know disabled our badges as we were driving off and to top it off had the security guard at the gate hand us our termination papers when we were pulling out. Whew talk about trying to be efficient, I won't fall for that one again!
“The empty boxes are for those that are going to be moved to another location that has been cleared from last Big layoffs.”
“My Group is to be moving into that building, since it is broken up in several other office buildings, they want to condense us all into one office building instead of paying for a lease of 3 buildings.”
Spencer will have changes, I can quite assure you of that.
I wonder how much of a pay cut our execs are taking to help WFT survive. Oh wait didn't they just move corporate headquarters to another country because executive pay was going to be taxed more! Are they more concerned with the companies bottom line or their own? They are driving us out of business! We definitely need new leadership (PERIOD).
Post ID: @ELzbqwN
Thank you for the kind words, that means more than you understand. We have to remind ourselves that it isn't us or our performance but just the bottom line. If a company doesn't have the work, it has to layoff.
Spencer road will never shutdown!
By all indications Spencer Road is about to be shut down ... it's nothing more than a proto shop doing noting but test pieces .... why keep it open when there's a proto shop in Huntsville? Especially when that entire facility is paid for....?
The empty boxes are for those that are going to be moved to another location that has been cleared from last Big layoffs.
My Group is to be moving into that building, since it is broken up in several other office buildings, they want to condense us all into one office building instead of paying for a lease of 3 buildings.
If the wonderboys can help WFt make it through the lows they can do just fine when it picks back up. Plenty of Baker hands to turn into real managers.
there is more cuts coming
there's more coming
Can't wait to see how they respond when business picks up. Guess all those two year wonderboys will get them over the hump1
find the boxes and burn them
So sad, sorry to hear this. Can u say who was cut.
I saw all those boxes too. Whew, they must be counting on cutting a lot as those pallets were neck high of the collapsed boxes.